Barbados, a country where most of its development opportunities are related to tourism and natural assets which are largely located in coastal areas, has received a 100-million dollars loan from the Inter-American Development Bank (IDB), the third of a series of three policy-based loans, in order to continue modernizing its policies, laws and regulations as it strives to achieve sustainable development.

The loan will help advance ongoing regulatory reforms to improve land-use planning, control over development, water resource management, natural asset management, disaster risk management, enhancing resilience. The IDB loan has a 20-year repayment term, a 5.5-year grace period and an interest rate based on the Secured Overnight Financing Rate (SOFR).